Coverage of the Singapore International Reinsurance Conference
Franz Josef Hahn, CEO, Peak Re, said mutual and cooperative insurers have a strong presence in the U.S. and Europe, and are an emerging force in China.
Steve Arora, CEO, Axis Re, said global prices are unsustainable but should adjust if insurers are willing to price realistically.
Matt Cannock, managing director for Asia, Markel International, said some insurers have been entering and leaving markets, creating uncertainty about the commitment of the industry to Asia.
Christie Lee, director of analytics, A.M. Best, said insurers in Japan are dealing with catastrophes, insurers in Korea are dealing with regulatory and accounting changes, and insurers in China are wrestling with tight underwriting margins.
Frank Fortunato, CEO, Catex, said risk data is in shorter supply in many parts of Asia, which is one reason the world did not realize how broadly flooding in Thailand would impact global supply chains.
